'Festering sore on the face of pensions'
Numbers jumped due to auto-enrolment
Transfer warnings not heeded
Pensions schemes will face significant additional working costs reaching into the millions of pounds to prepare their data for the pensions dashboard, according to Lane Clark & Peacock (LCP).
Pensions and financial inclusion minister Guy Opperman has warned schemes who do not have their data organised to the standard required for the pensions dashboard will face “draconian penalties.”
Could be delayed by general election
21-day transfer pledge
23% would discuss pension with cold caller
Under Boris Johnson
Future code of practice
No further retrospective changes
Last commission convened in 2002
The Pension Scams Industry Group (PSIG) has updated its voluntary code of practice to reflect regulatory and legislative changes that have affected the industry over the last year.
AE's 'truly staggering' impact
Some facing 'significant problems'
'Service is big step'
Publishes response to consultation
Focusplay Retirement Benefit Scheme
'Service has vital role to play'
First mentioned in Cridland Report
Guy Opperman has rejected calls to speed up changes to auto-enrolment (AE) despite increasing pressure to boost contribution rates and overall savings pots.